Irrefutably, a country’s economy depends on residents’ productivity. The Republic of Honduras, bordered towards the west by Guatemala, has taken vital measures to prepare the talent pool for engagement in modern-day businesses. The country’s strength lies on strength of its labor force’s efforts and availability.
Honduras enjoys a demographic bonus in the Central-American region. With having more of the young population, Honduras encompasses labor force of about 3.4 million people who are productive. Besides, about 2.2 million of population belongs to ages of 18 to 35 years – more energetic young resources for diverse industries. Not only this, English proficiency is found more in the young ones.
Information about Labor Sustainability in Honduras.
Surprisingly, various forecasts have predicted that demographic bonus in Honduras will rise dramatically in between 2045 and 2050. There will be two generations who would take advantage of the Honduras’s productive market. The opportunity is considered unique and unrepeated for Honduras. As a result, the country now aims to invest more in the work force, making reforms for improving education standards and advancing information technology.
Above all, Honduras aims to have more than 250,000 students studying English as a second language in the next 3 years. Apart from this, Honduras’s circumstances allow it to have more English-speaking and qualified individuals. Honduras’s closeness with the United States and media broadcasts provide its citizens with a cultural affinity with American population. In the recent years, the young professionals, notably in the BPO and call center industry, have occupied about 10,000+ positions.
In addition, Honduras’s labor compensation is considered the lowest in the region. However, pay scales would become manageable in future, considering the joint efforts of private, state-sponsored, and academic sector in the Honduras. On top, Altia provides employment to 5000+ people in Honduras.
Undoubtedly, investors focus on two prime aspects in labor market when considering human resources i.e. availability and labor cost. Considering, the 276K active bilingual population in the city, universities in Honduras graduate various disciplines each year. The steady population growth rate and fastening growth rate of college graduation is deemed to expand in the upcoming years.
Statistics about Labor Pool in Honduras.
Qualified Labor and Costs
Honduras is considered the most suitable destination for bilingual labor force in term of quality and costs. Not only this, the macroeconomic indicators are favorable for residents in the Honduras. The rate of educational enrollments in Honduras has surpassed the competitors in the region. Besides, Hondurans are inclined towards services economy. The population is tech savvy with higher mobile and internet penetration per capita than other countries.
Visual Representation of School Distribution in Honduras.
With unofficial unemployment rate reaching about forty-seven percent in Honduras, some graduates find it difficult to find meaningful employment. The prime labor pool for various service centers derive from graduates of Mathematics, Science and Arts. In addition, the technical help desk services are conducted by pool of graduates specialized in Science and Engineering. However, the case doesn’t apply to graduates holding specialization in business studies and information technology.
With a feasible business environment and a record of over a century of success, Honduras is a suitable country for masses. Apart from having an abundance of competent human workforce, Honduras is a worthy country due to affinity with both American and European cultures.
The residents in Honduran leverage effective efforts and productivity to serve the regional markets and Hispanic populations located in the US and European region. Besides, Honduras gives space to the largest number of English speaking schools, encompassing more than 820 schools along with a large population of bilingual workers. In this way, Honduras stands as a country that values human talent and workforce greatly.